ExxonMobil to Acquire One of World’s Largest Aromatics Plants

Agreement signed for the Jurong Aromatics Corporation plant in
Singapore

Plant will enable cost-competitive growth of ExxonMobil’s strategic
aromatics business

Proximity to company’s integrated refining and petrochemical complex
will strengthen both sites with product and logistical synergies

May 10, 2017 11:00 PM Eastern Daylight Time

HOUSTON--(EON: Enhanced Online News)--ExxonMobil Chemical Company announced today that its Singapore affiliate
has reached an agreement with Jurong Aromatics Corporation Pte Ltd to
acquire its plant located on Jurong Island in Singapore.

“As a leading global manufacturer of aromatics, the addition of this
aromatics plant to our existing operations in Singapore will help us
better serve our customers in key Asian growth markets”

The plant, one of the largest in the world with an annual production
capacity of 1.4 million tonnes, presents operational and logistical
synergies for ExxonMobil’s integrated refining and petrochemical complex
nearby. The company expects to complete the transaction in the second
half of 2017.

“As a leading global manufacturer of aromatics, the addition of this
aromatics plant to our existing operations in Singapore will help us
better serve our customers in key Asian growth markets,” said Matthew
Aguiar, senior vice president of basic chemicals, intermediates and
synthetics for ExxonMobil Chemical Company. “We continue to make
strategic investments to ensure ExxonMobil is well positioned to meet
increasing global demand for chemical products.”

Singapore is home to ExxonMobil’s largest integrated refining and
petrochemical complex, which has a crude oil processing capacity of
592,000 barrels per day and includes two world-scale steam crackers.
Acquisition of the Jurong aromatics plant will increase ExxonMobil’s
Singapore aromatics production to over 3.5 million tonnes per year, of
which 1.8 million tonnes is paraxylene.

“Our growth in Singapore is driven by the expected increase in global
demand for chemical products over the next decade of nearly 45 percent,
or about 4 percent per year, which is a faster pace than energy demand
and economic growth,” said Neil Chapman, president of ExxonMobil
Chemical Company. “Nearly three-quarters of the increased demand is
expected to be in Asia Pacific as a result of its rising prosperity and
a growing middle class.”

ExxonMobil has operated in Singapore for more than 120 years and is one
of the country’s largest international manufacturing investors.
Singapore’s integrated petrochemical complex can process a wide range of
feedstocks, from light gases to crude oil. Later this year, the complex
will begin the phased start-up of new 230,000 tonne-per-year specialty
polymers facilities that will produce halobutyl rubber and performance
resins for adhesive applications.

About ExxonMobil Chemical Company

ExxonMobil Chemical Company is one of the largest petrochemical
companies worldwide. The company holds leadership positions in some of
the largest-volume and highest-growth commodity petrochemical products
in the world. ExxonMobil Chemical Company has manufacturing capacity in
every major region of the world, serving large and growing markets. More
than 90 percent of the Company’s chemical capacity is integrated with
large refineries or natural gas processing plants. To learn more, visit www.exxonmobilchemical.com.

CAUTIONARY STATEMENT: Statements of future events or conditions in
this release are forward-looking statements. Actual future results,
including project plans and capacities and future demand growth and
market positioning could differ materially due to changes in market
conditions affecting the oil, gas and petrochemical industries or
long-term price levels for oil, gas, refined products and
petrochemicals; political or regulatory developments, including the
granting of required permits and any changes in environmental laws; the
occurrence and duration of economic recessions; the actions of
competitors; technical or operating factors; the outcome of commercial
negotiations; and other factors discussed under the heading "Factors
Affecting Future Results" in the Investors section of our website (www.exxonmobil.com)
and in Item 1A of our most recent Form 10-K.Closing of the
acquisition is dependent on satisfaction of conditions specified in the
applicable agreement.

Nothing in this material is intended to override the corporate
separateness of Exxon Mobil Corporation and its affiliates. A reference
to ExxonMobil may refer to Exxon Mobil Corporation, one of its divisions
or to companies affiliated to Exxon Mobil Corporation or to any one of
the foregoing. The shorter term is used merely for convenience and
simplicity.